5 Tips to Choose a Better Savings Account

Bangalore: Putting your money in a savings account may not yield you a higher return as various investment schemes provides. But then it is good to have a saving account as it provides a guaranteed and safe return. Even there are some savings account which offers higher interest rates and charges less for its services. Here are few tips to help you choose a better saving account, as reported by Economictimes.com

Interest Rates

The interest rates offered by the bank could be your concerns. Of course, it’s wise to choose the one with the highest rates. If you choose to open an open an account in Karnataka Bank, then you would receive a return of 4 percent a year for all amounts.

On the other hand, YES Bank provides 7 percent interest rate per annum for a balance of more than 1 lakh and 6 percent a year for balance of up to 1 lakh. Having a savings account is quite essential, as besides keeping your money safe, it also provides quick cash availability at times of need.

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